Altice USA (NYSE:ATUS) Stock Price Down 2.5%

Altice USA, Inc. (NYSE:ATUSGet Rating) dropped 2.5% during trading on Tuesday . The stock traded as low as $8.54 and last traded at $8.54. Approximately 75,314 shares changed hands during mid-day trading, a decline of 98% from the average daily volume of 3,358,372 shares. The stock had previously closed at $8.76.

ATUS has been the subject of several recent analyst reports. JPMorgan Chase & Co. cut their price target on shares of Altice USA from $18.00 to $14.00 in a report on Friday, April 29th. Societe Generale lowered shares of Altice USA from a “buy” rating to a “hold” rating and set a $12.00 price target for the company. in a report on Wednesday, February 23rd. TD Securities lowered their target price on shares of Altice USA from $26.00 to $21.00 and set a “buy” rating on the stock in a research note on Friday, April 29th. Benchmark lowered their target price on shares of Altice USA from $21.00 to $19.00 in a research note on Friday, April 29th. Finally, Barclays lowered their target price on shares of Altice USA from $17.00 to $12.00 in a research note on Friday, April 29th. Fifteen investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $19.30.

The company has a market capitalization of $3.86 billion, a PE ratio of 4.38, a price-to-earnings-growth ratio of 0.26 and a beta of 1.21. The stock’s 50 day simple moving average is $10.48 and its 200-day simple moving average is $12.62.

Altice USA (NYSE:ATUSGet Rating) last issued its quarterly earnings results on Thursday, April 28th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.11. The company had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.44 billion. Altice USA had a net margin of 9.10% and a negative return on equity of 95.86%. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.58 earnings per share. Analysts anticipate that Altice USA, Inc. will post 1.5 EPS for the current year.

Several hedge funds have recently added to or reduced their stakes in ATUS. FNY Investment Advisers LLC purchased a new stake in shares of Altice USA during the fourth quarter worth approximately $25,000. Counterpoint Mutual Funds LLC purchased a new stake in shares of Altice USA during the fourth quarter worth approximately $25,000. Herold Advisors Inc. purchased a new stake in shares of Altice USA during the first quarter worth approximately $25,000. CWM LLC increased its stake in shares of Altice USA by 1,011.1% during the first quarter. CWM LLC now owns 2,500 shares of the company’s stock worth $31,000 after buying an additional 2,275 shares during the period. Finally, EverSource Wealth Advisors LLC purchased a new position in Altice USA in the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors own 54.30% of the company’s stock.

About Altice USA (NYSE:ATUS)

Altice USA, Inc, together with its subsidiaries, provides broadband communications and video services in the United States, Canada, Puerto Rico, and the Virgin Islands. It offers broadband, video, telephony, and mobile services to approximately five million residential and business customers. The company's video services include delivery of broadcast stations and cable networks; over the top services; video-on-demand, high-definition channels, digital video recorder, and pay-per-view services; and platforms for video programming through mobile applications.

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